Bank of America will turn me to collections help !!?

Ok,



I am on a 0% APR agreement with BOA to repay money. 250 dollars

for 48 mos. But, I cannot miss one, not one payment.



I have 1,000 dollars left to my name and lost my job. There is

a possiblity I will get hired another job but not 100%.



BOA will not wait. They said next step: Collections.



How does collections work? Will they contact my previous

employers, etc and harrass them? Will they charge interest?

Does it seriously ruin my credit?



I changed ph numbers and addresses. I am more

worried about them harrassing past employers and ruining

my name with them (Since I dont have a job now)

Can they do this?



Please help



Thank youBank of America will turn me to collections help !!?
They could call your past employers if they honestly think they'll find you there. But they won't waste their time badmouthing you for no reason. I would call BOA, explain the situation, and hope they'll give you a break. Even a few months. Tell them you're thinking about declaring bankruptcy. If you did, you no longer owe them and they get NO money. Maybe they'll be flexible. Good luck!Bank of America will turn me to collections help !!?
Tell them you are out of work and cannot afford to pay 250 per month, if they say they cant accept less let it go to collections, then tell them you cant afford 250. They will work with you to repay the amount owing at something you can afford.



As far as I know they cannot contact previous employers but they can contact the last phone number you gave them. If you are having trouble go to a debt advice agency and they will help you.
Try to negotiate what it is you are able to pay and see if they will work with you. If they are a good bank/creditor they will but if they don't get it paid off and never use their services again. I have known a lot of people who ends up disgusted at the service they received from Bank of America
They will charge interest, and at the default interest rate, not the regular interest rate.



They are prohibited by law from telling your past employers that you owe money. They can call your past places of employment and ask to talk to you, but are not allowed to tell someone else why they are trying to call you.



You will be harassed by calls to you.



It will be reported credit reporting agencies. If you apply for a job at a company that runs credit checks on applicants, they will see what has been reported when they review your credit report.



Eventually, you might be sued.
It will be on your credit report that you are unable to pay the creditor for seven years. chances are that your potential employer will look at your credit report (if they check it) and turn you down for a position. They will not harass your past employers. Interest rates will be high. Just call them and negotiate. Tell them your story oh how much money you have left. They might be able to let you ';slide by'; if you have been a faithful customer of bank of america for a number of years.